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China’s currency regulator’s campaign against illegal capital outflows targets underground banking operations involving $148 billion

4 months ago
Amedeo Tumolillo
T
he State Administration of Foreign Exchange also seized $8.43 billion in foreign exchange funds, part of a tightening of controls to manage the value of the yuan.
By Amedeo Tumolillo
Amedeo Tumolillo is an editorial consultant with SupChina and award-winning multimedia journalist. He previously worked at The New York Times and Spectrum. Follow him on Twitter at @hellotumo.
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